The Travel Insurance Act establishes a comprehensive legal framework for the sale of travel insurance in New Jersey, specifically targeting policies sold to state residents. It clarifies that existing insurance laws remain applicable, but the provisions of this Act will take precedence in case of any conflicts. Key definitions are introduced, including "travel insurance," "travel assistance services," and "travel retailer." The Act outlines licensing requirements for limited lines travel insurance producers and travel retailers, mandates premium tax payments on travel insurance premiums, and sets guidelines for travel protection plans to ensure consumer awareness of coverage and services.

Additionally, the Act enhances consumer protection by requiring travel insurance policies with pre-existing condition exclusions to inform consumers about these exclusions prior to purchase. It mandates timely delivery of fulfillment materials post-purchase, allowing policyholders to cancel for a full refund within specified timeframes. The bill prohibits negative options in the purchasing process and deems marketing blanket travel insurance as free an unfair trade practice. It also establishes qualifications for travel administrators and classifies travel insurance under an inland marine line while permitting certain coverages under accident and health lines. The commissioner is empowered to adopt necessary rules and regulations for effective implementation of the Act.